Kazakhstan is set to welcome a major investment from China’s Zijin Mining Group, a leading global mining and metallurgy firm. The Ministry of Foreign Affairs of Kazakhstan announced that during a recent meeting, Deputy Minister Alibek Kuantyrov and NC Kazakh Invest Chairman Yerzhan Yelekeyev discussed potential investment opportunities with Zijin’s Chairman, Chen Jinghe. The focus of the discussion was a new project aimed at developing gold, copper and polymetallic deposits in Kazakhstan.
Zijin Mining plans to invest $100 million to build a processing plant for non-ferrous and precious metal concentrates in Kazakhstan. These concentrates will be further processed at local metallurgical facilities, enhancing Kazakhstan’s industrial capabilities.
The investment is expected to generate at least 1,000 jobs, benefiting local employment and fostering the growth of small and medium-sized enterprises. Additionally, Zijin Mining is interested in conducting geological exploration in new regions, which will expand Kazakhstan’s mineral resource base and strengthen its position in the global mining industry.
Deputy Minister Kuantyrov highlighted the strategic importance of the mining sector to Kazakhstan’s economy and assured Zijin Mining of government support. He emphasized the favorable investment climate and the incentives available to investors in the metallurgical sector.
“We attach great importance to the mining industry. The concept of development of the geological industry of the Republic of Kazakhstan notes the special importance of exploration and production of minerals for the country’s economy. We are ready to provide comprehensive assistance in the successful implementation of your project in Kazakhstan,” he said.
Zijin Mining representatives expressed gratitude for the warm reception and reaffirmed their commitment to advancing joint projects in Kazakhstan. With a market capitalization exceeding $47 billion as of 2022, Zijin Mining is a major global mining player, operating in 12 countries and 14 regions within China. By the end of 2023, the company’s copper resources totaled 96 million tons, with annual production reaching 720,000 tons of cathode copper and 250 tons of refined gold.
